AUGUSTA, Ga. — José María Olazábal hit a tee shot at Augusta National Golf Club's 12th hole one day this week, jokingly bowed to the spectators and meandered toward the green of one of the great holes in golf.
The famously controlling club has spent decades accepting that it cannot, in fact, control the weather. But economic forces surrounding the tournament are well within reason, and so the price of a pimento cheese sandwich has stood at $1.50 since 2003. Adjusted for inflation, and assuming the sandwich was appropriately priced to begin with, it should be about $2.14.
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An economic look at The American Jobs Plan | KVII
'Home Economics' star Topher Grace on the weirdness of discussing money | Features | yoursun.com
That's the premise of ABC's new sitcom, "Home Economics," which stars Topher Grace, who's returning to broadcast TV for the first time since "That '70s Show."
"There's nothing that comes between friends like money," Grace, 42, said. "We put the onus on family and togetherness and the things that matter that money can't buy."
The show revolves around three siblings: Tom (Grace), the middle sibling and a middle-class author; Sarah (Caitlin McGee), the oldest and a currently unemployed child therapist; and Connor (Jimmy Tatro), the youngest and richest sibling whose gig with a private equity firm pays enough for him to buy Matt Damon's house.
The economy is on the cusp of a major boom and economists believe it could last
The economy has entered a period of supercharged growth , and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.
Economists now expect the second quarter to grow at a pace of 10%, and growth for 2021 is expected to be north of 6.5%. In the past decade, there have been few quarters where gross domestic product grew at even 3%. Forecasts for 2021 and 2022 were revised higher after Congress approved $1.9 trillion in fiscal spending, on top of an earlier $900 billion package late last year.
Stanford's 'Marriage Pact' Is Actually A Great Way To Understand Economic Markets : NPR
At Stanford University, an assignment for a class on markets led to an experiment using economic thinking to match undergrads together romantically. It's a great way to understand many other markets.
The marriage market is a market. There just aren't any prices. And when you can't put a price tag on something like love, economists have found ways to match people, as Sarah Gonzalez with our Planet Money podcast reports.
India protests U.S. Navy's transit through its exclusive economic zone | Reuters
NEW DELHI (Reuters) - India protested to the United States for a navy vessel conducting a transit through its exclusive economic zone (EEZ) without consent, the foreign ministry said on Friday, in a rare row between the friendly navies of the two countries.
The USS John Paul Jones "asserted navigational rights and freedoms," inside India's EEZ in line with international law by sailing about 130 nautical miles (241 km) west of India's Lakshadweep islands, the U.S. Seventh Fleet said in a statement on Wednesday.
Leprechaun economics key to understanding US corporate tax proposal
Joe Biden, unlike his predecessor, has hired people who know what they're talking about. Photograph: Jim Watson/AFP
In the summer of 2016, the Central Statistical Office (CSO) reported something astonishing: Ireland's small nation's gross domestic product had risen 26 per cent in the previous year (a number that would later be revised upward). It would have been an amazing achievement if the growth had actually happened.
But it hadn't, as government officials acknowledged from the beginning. It was, instead, an illusion created by corporate tax games. At the time, I dubbed it "leprechaun economics," a coinage that has stuck; luckily, the Irish have a sense of humour about themselves.
Economics seems to play bigger role than conservation in Sun City West water | Your Valley
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Totting up bitcoin's environmental costs | The Economist
A S COINBASE'S IPO shows, cryptocurrencies have many fans. But they have detractors, too. Environmentalists, in particular, fret about how much energy bitcoin uses. In a paper in Nature Communications , a group of academics led by Dabo Guan of Tsinghua University and Shouyang Wang at the Chinese Academy of Sciences examine bitcoin's energy use in China.
Bitcoin's hunger for energy stems from its design. It forgoes centralised record-keeping in favour of a "blockchain", a transaction database that is distributed among users. The blockchain is maintained by "miners", who validate transactions by competing to crack mathematical puzzles with solutions that are hard to find but easy to check. Each successfully mined block of transactions generates a reward, currently 6.25 bitcoins ($357,000).
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